The Global Smart Glass Market is expected to reach USD 8.35 Billion by 2023 from USD 3.32 Billion by 2017, at a CAGR of 16.61% between 2017 and 2023. Some of the key factors driving the growth of this market are the growing demand for smart glass in automobile applications, strong government support through mandates and legislations for energy-efficient construction, and optimal energy saving through smart glass applications.
Governments and the policymakers across the world have started framing policies, legislations, and laws to increase the energy-efficiency of buildings. For example, the energy-efficiency directive from the European Union (EU) defines the measures to increase the efforts from member states to use energy more efficiently at all stages of the energy chain from the transformation and distribution of energy to its consumption. The directive includes the legal mandates to establish energy-efficiency obligations schemes or policy measures in all the member states. This will further drive the adoption of smart glass-enabled energy-efficient products in residential and commercial building construction, and in the transport sector, despite the higher cost of these glasses than the normal (flat) glass.
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The smart glass market based on technology has been segmented into suspended particle display (SPD), electrochromic, liquid crystal (LC), micro-blinds, photochromic, and thermochromic technologies. The smart glass market for SPD is expected to grow at the highest CAGR between 2017 and 2023. SPD glass offers many benefits due to its unmatched working capacity to change its light emission property to the desired level. This type of glass can adjust its light emission property from transparent to dark within 1–3 seconds and can be used to effectively control the glare from sun rays. SPD-enabled smart glass also restricts UV light up to 99%, providing a healthy ambiance with a sufficient amount of natural light.
The key players in the market include SAGE Electrochromics, Research Frontiers, View, Inc., Asahi Glass Co., Gentex, Hitachi Chemical, Glass Apps, Pleotint, Polytronix, RavenWindow, Scienstry, Smartglass International, and SPD Control Systems. The key players in this market are increasingly undertaking partnerships and collaborations, and product developments and launches to develop and introduce new technologies and products in the market.
The following are the major objectives of the study.
- To define, describe, and forecast the smart glass market, in terms of value, segmented on the basis of technology, application, and geography
- To forecast the smart glass market, in terms of volume, segmented on the basis of technology
- To analyze the market structure by identifying various subsegments of the smart glass market
- To forecast the market size, in terms of value, with regard to 4 main regions—Asia Pacific (APAC), Europe, North America, and Rest of the World (RoW)—along with their respective countries
- To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
- To strategically analyze micromarkets with respect to individual growth trends, prospects, and contribution to the total market
- To identify the major market trends and factors driving or restricting the growth of the smart glass market and its various sub-markets
- To provide a detailed overview of the smart glass value chain
- To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the smart glass ecosystem
- To profile the key players in the smart glass market and comprehensively analyze their market shares and core competencies in each segment
- To analyze competitive developments in the smart glass market, such as alliances, joint ventures, and mergers and acquisitions
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